ASANKO GOLD MINE:GROWTH PLAN TO DELIVER LOW COST OUNCES

Site Visit Technical Presentations

18November2016

2

This document has been prepared by Asanko Gold Inc. (the “Company”) solely for informationalpurposes. This presentation is the sole responsibility of the company. Information containedherein does not purport to be complete and is subject to certain qualifications and assumptionsand should not be relied upon for the purposes of making an investment in the securities orentering into any transaction. The information and opinions contained in the presentation areprovided as at the date of this presentation and are subject to change without notice and, infurnishing the presentation, the company does not undertake or agree to any obligation toprovide recipients with access to any additional information or to update or correct thepresentation.

No securities commission or similar regulatory authority has passed on the merits of anysecurities referred to in the presentation, nor has it passed on or reviewed the presentation.Cautionary note to United States investors - the information contained in the presentation usesterms that comply with reporting standards in Canada and certain estimates are made inaccordance with National Instrument 43-101 (“NI 43-101”) - standards for disclosure for mineralprojects. The presentation uses the terms “other resources”, “measured”, “indicated” and“inferred” resources. United States investors are advised that, while such terms are recognizedand required by Canadian securities laws, the SEC does not recognize them. Under United Statesstandards, mineralization may not be classified as “ore” or a “reserve” unless the determinationhas been made that the mineralization could be economically and legally produced or extractedat the time the reserve determination is made. United States investors are cautioned not toassume that all or any part of measured or indicated resources will ever be converted intoreserves. Further, “inferred resources” have a great amount of uncertainty as to their existenceand as to whether they can be mined legally or economically. It cannot be assumed that all orany part of the “inferred resources” will ever be upgraded to a higher category. Therefore,United States investors are also cautioned not to assume that all or any part of the inferredresources exist, or that they can be mined legally or economically.

Under Canadian rules, estimates of “inferred resources” may not form the basisof feasibility or pre-feasibility studies except in limited cases. Disclosure of“contained ounces” is permitted disclosure under Canadian regulations;however, the Securities Exchange Commission (SEC) normally only permitsissuers to report mineralization that does not constitute “reserves” as in placetonnage and grade without reference to unit measures. Accordingly,information concerning descriptions of mineralization, mineral resources andmineral reserves contained in the presentation, may not be comparable toinformation made public by United States companies subject to the reportingand disclosure requirements of the SEC.

The presentation may contain “forward looking statements” within the meaningof the United States private securities litigation reform act of 1995 and “forwardlooking information” with the meaning of applicable Canadian securitieslegislation concerning, among other things, the size and the growth of thecompany’s mineral resources and the timing of further exploration anddevelopment of the company’s projects. There can be no assurance that theplans, intentions or expectations upon which these forward looking statementsand information are based will occur. “Forward looking statements” and“forward looking information” are subject to a variety of risks, uncertainties andassumptions, including those that are discussed in the company’s annualinformation form. Some of the factors which could affect future results andcould cause results to differ materially from those expressed in the forwardlooking statements and information contained herein include: market prices,exploitation and exploration successes, continued availability of capital andfinancing and general economic, market, business or governmental conditions.Forward looking statements and information are based on the beliefs, estimatesand opinions of management at the date the statements are made and aresubject to change without notice. The company does not undertake to updateforward looking statements or information if management believes, estimatesforward or opinions or other circumstances should change. The company alsocautions potential investors that mineral resources that are not materialreserves do not have demonstrated economic viability.

FORWARD LOOKING INFORMATION

This image cannot currently be displayed.

3

WELCOME

JOE ZVAIPAMANAGING DIRECTOR, GHANA

4

EXPERIENCED MANAGEMENT TEAM…

5

…. WITH PROVEN TRACK RECORD

6

SITE VISIT TIMETABLE

Time Presentation Presenter

8.45am SafetyInduction CharlesAmoah,GM

9.00am FormalWelcome& Introduction JoeZvaipa,ManagingDirectorGhana

9.10 am SHE&Phase1Update Hugo Truter,ChiefOperatingOfficer- AGM

9.20am Phase2 Expansion Russell Bradford,ProjectDirector

10.00am 2017Outlook RobSlater,Executive:Mining

10.10am Geology&Exploration PhilBentley,Executive:Geology &Resources

10.30am Tea &Coffee(10mins)

10.45 am– 12.45pm Mine,PlantTour&CoreShed ReferBadgeLabelsforBus1&Bus2

1.00 pmLunch(30mins)

1.30pm CSR FredAttakumah,Executive: CorporateAffairs

1.45pm Final Q&A/Conclusion PeterBreese:President &CEO

2.00pm Tea &CoffeeDepartforAirstrip&OtherMineTours

This image cannot currently be displayed.

7

PHASE 1 UPDATE

HUGOTRUTERCHIEFOPERATINGOFFICER- AGM

8

SAFETY

• ExcellentsafetyrecordofZEROlosttimeinjuryontheconstructionofPhase1processingplant

• Site-specific,peoplebasedsafetyprogram– Fihankra – reinforcingourhighsafetystandards

• ContinuousobjectiveofZEROHARM

• ForPhase2

• ThekeyconstructionandsafetyteamfromDRAhavebeenretainedforPhase2

• ThepeoplebasedsafetysystemusedinPhase1willbeusedinPhase2forallcontractorsandemployees

• ELB,theconveyorcontractor,havebeenintegratedintotheAsanko safetysystemthroughengagement

Incident Type Rolling12MonthsOct - Oct

Fatality 0

Lost Time Injury 1

Man-hours Worked 5,472,109

TIFR (per million man hours) 6.03

LTIFR(permillionman hours) 0.18

Last LTI Date 8March 2016

LTI Free Man-hours 2,964,816

LTI Free Days Worked 237

9

KEEPING UP WITH THE HUNGRY MILLS

• Millsnowrunningat+10,000tpd,20%abovedesign

• CrushingcircuitdebottleneckedinQ32016withadditionofmobilecrusher

• Capacityof10,000tpd,currentlyrunningat4,000tpdfor8hours

• Crushingto-70mm,optimizedtopebbleportsizeinSAGmill

• AdditionalupgradesinmaterialshandlingsectioninQ12017toincreaseavailabilityofprimarycrushingcircuit

NewlyInstalledMobileCrusherMaterialsHandlingSection

10

PHASE 1: DELIVERING ABOVE EXPECTATIONS 3 QUARTERS SINCE FIRST GOLD

CULTUREVoluntaryBehaviour

STRUCTURE

PEOPLETASKProcesses Skills

Systems

STRATEGY

MeasurementandFeedback

OUTPUTS

INPUTS

This image cannot currently be displayed.

11

PHASE 2 EXPANSION

12

GROWTH PLAN TO +470,000 OZ/YR

Asanko ProductionProfile

Phase1DPP:~190,000

Ø 2017productionof230,000-240,000ozØ Phase2Aapprovedandunderway;290,000- 300,000ozin2018

Ø AcceleratedPhase2Bexpansionwillachieve~470,000ozby2020Ø 2nd largestgoldmineinGhanaproducing15%oftheannualgoldproduction

Ø 7th largestgoldmineinAfrica

0

50

100

150

200

250

300

350

400

450

500

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

'000oz

Phase 1

Phase 2A

Phase 2B

Phase 1Optimization

13

PHASE 2A SCOPE

Phase2A:

• Upgradeexistingplantcapacityfrom3.6Mtpato5Mtpa

• ConstructoverlandconveyorandestablishEsaase pit

• EnvironmentInvoicereceivedfromtheEPA,finalpermitexpectedshortly

• BoardapprovedandFEEDunderway

• CapitalcostestimateUS$125- 130m

• Fundedfrominternalcashflows

14

PHASE 2B SCOPE

Phase2B:

• Doubleprocessingcapacityto10Mtpa,targeting±470,000ozproduction

• Scopechanged– replicate5MtpaCILplantinsteadofflotationplant

• IncreaseminingratesatEsaase to7Mtpa

• Significantexpansionofexistingtailingsstorage

• CapitalcostestimateUS$210-220m

15

ESAASE MINERALIZATOIN

KEDD530

Fresh

Fresh

Oxide

Oxide

Fresh

KEDD303

PHASE 2

37% Oxides63% Fresh

3% Oxides97% Fresh

PHASE 1 Esaase InPitReserves(2014)

Ore Mt g/tgold M/oz

Oxides 21.90 1.40 0.99

Fresh 38.41 1.41 1.74

Total 60.31 1.41 2.73 15

16

ESAASE OXIDE GEOLOGICAL STRUCTURE

Hydrothermalalteration

Goldmineralisationfoundinquartz-carbonateveins

17

ESAASE MINING OPERATIONS

• Largedeposit(over3kmstrikelength)allowsminingflexibility

• Esaase development:

• Largepitwith2lobes• ROMPad• PrimaryandSecondaryCrusher• Mineinfrastructure

• Q12018:Fleetmobilisation

• H12018:Bulkearthworks&constructionofmineinfrastructure

• H22018:Oreminingplannedtocommence

18

ESAASE PIT: PLANNED SEQUENCING

Phase2AMiningCommences

Phase2A– ±2MtpaOre/10MtpaTotalMaterialMined

19

ESAASE PIT: PLANNED SEQUENCING

20

ESAASE PIT: PLANNED SEQUENCING

Phase2B– 6.7MtpaOre/45MtpaTotal

21

ESAASE PIT: PLANNED SEQUENCING

SouthPitBackfilled

22

ESAASE PIT: PLANNED SEQUENCING

FinalPit

23

SECTION OF ESAASE PIT SHOWING FINAL PIT DEPTH

EndofYear10June2028

Period CCM’s = 4.3Mm3

Total CCM’s = 166.9Mm3

23

24

ESAASE CONTRACTOR MINING FLEET

Decription Phase2A Phase2B TotalUnits

PitLoadandHaul(PrimaryFleet)CAT6030 1 3 4CAT777D 14 22 36CAT6015 1 0 1

PitLoadandHaul(PitSupportFleet) 0CATD9Dozer 2 4 6CAT77035klWaterBowser 1 1 2CAT16HMotorGrader 1 1 2CAT992FEL 1 1 2

DrillingFleetSandvik1500Pantera 4 8 12TLB(Stemming) 1 1 2

ContractorMiningFleet

25

PHASE 2A – UPGRADE EXISTING PLANT TO 5MTPA

• Upgradeexistingplantfrom3.6Mtpato5Mtpaduring2017

• Onlyrelativelyminorcapitalworksrequired:

• Increasingcapacityofmilldischargepumps

• Duplicatecyclonepack

• TwoadditionalKnelson gravitygoldconcentrators

• Additionalintensiveleachreactor

• Increasinggoldroomcapacity

• Increasingcapacityoftailingspumpsandtwintailingpipeline

• CommissioningscheduledforQ12018

• OrefeedtobesourcedfromsatellitepitsuntilEsaase conveyorready

26

PHASE 2A LAYOUT

• Expandexistingplantto5Mtpa

• Transport±2MtpaoforefromEsaase viaconveyor

conveyorconnection

27

PHASE 2A

ExtendthemilltowertoaccommodatenewKnelsons

27

28

PHASE 2A – OVERLAND CONVEYOR

• 27kmlongoverlandconveyor

• 12mservitudemediumsecurityfencedbothsides

• Flatterrain

• 10Publicroadcrossings

• 27pedestriancrossings

• 2Haulroadcrossings

Esaase Tip

SaddleCrossing

ObotanStockpile

29

CONVEYOR DESIGN OVERVIEW

• Designcapacityiscontrolledbyvariablespeeddriveupto1,200tph(morethansufficientforPhase2Aand2B)

• BeltData:– Beltlength 54,403m– BeltClass ST2400– BeltWidth 800mm

• InstalledPower:– Head: 3x700kW(master)– Tail: 1x700kW(slave)

• TotalIdlerSets:– Carry: 9,403– Return: 4,683

• Mass(tonnes)- Estimated– Structural 1,908– Mechanical 716– Belt 1,305

30

ENVIRONMENTAL CONSIDERATIONS

Waterandroadcrossingsfullyenclosed

BeltTurnovers- Belt runsoncleansidetopreventspillage

Bunkersforspillagecollectionatheadandtail HDPEidlersforreducednoiseandfriction

DustSuppressionOnchutes Lowprofileroof

31

PHASE 2B SCOPE - OVERVIEW

• Conveyortransports7MtpaofEsaase oretoObotan

• Additional5Mtpamilling&CILcircuit

• SignificantexpansionofTailingsStorageFacility

• Villagerelocation

32

WHY THE CHANGE TO CIL?

• 2012/13Testwork byKeeganatALSinPerthresultedinthefollowingobservations/conclusions:• ProcessingofEsaase oxidesbyCILworkedwell• VirtuallynorecoverydifferencebetweenCILandflotationlife-of-mine• FlotationresultedinmaterialcostsavingscomparedtoCIL

• Flotationselectedaspreferredroutefor2015PFSbasedonexpected opex savings

Composite

Gravity-CILGravity-

Flotation-CIL

OriginalKeeganPFSP150um basedonPhaseIIIVariability

2012/13CILP75um basedonPhaseVComposites

2012/13FloatP75um based

onPhaseVComposites

Laterite 84.8% 92.8% 84.5%

Oxide 84.8% 92.9% 84.7%

Transitional 84.9% 93.7% 91.2%

Fresh 88.4% 91.5% 94.2%

RecoveryDiscount 1.6% 1.6% 1.09%

LOMRecovery 85.3% 90.5% 90.0%

ProcessCosts Flotation CIL

LoM $/t LOM$/tMilling $0.63 $0.50Reagents(Flotation) $1.20 -Reagents(CIL) $2.79 $5.14Reagents(Detox) $0.11 $3.10Reagents(Other) $0.18 $0.50Tailings $0.19 $0.19Power $3.88 $4.22Labour $0.62 $0.62Maintenance $0.44 $0.53Laboratory $0.15 $0.15Other $0.28 $0.40Total $10.47 $15.34

33

2015/2016 TESTWORK – BASED ON PHASE 1 OPERATIONS

• 2015/16gravityandCILlaboratorytestwork doneaspartofongoingoptimizationonEsaaseore&blendswithNkranforupgradeofPhase1plant

• Achievedthefollowingrecoveries:

Float– 75um CIL– 106um

Oxide 84.7% 94.7%

Trans 91.2% 87.4%

Fresh 94.2% 94.1%

• BlendsofObotan freshandEsaase oxideachievedsimilargoldrecovery

• Cyanideconsumptionsachievedduringthetestwork rangedbetween0.5– 0.7kg/t,inlinewithcurrentoperatingconsumptions

• With2stagecrushingandthecurrentSAG/Ballconfiguration,comminutionmodellingshowsthat5MtpacanbeachievedforaP80 106um

• Basedonthelatestrecovery&operatingcostresults,thedecisionmadetobuild5MtpaCILplantforPhase2B

• TheopportunitytoreplicatethecurrentCILflowsheettocreateplantsynergyisnowanattractiveoption

34

COST COMPARISON OF CIL VS FLOTATION

Phase1CILPlant#1

Phase2BFlotationPlant

Phase2BCILPlant#2

Total(variable) $/tmilled $10.84 $10.86 $9.74

Labour $/tmilled $1.04 $0.12 $0.12

Laboratory $/tmilled $0.03 $0.03 $0.03

Consumables $/tmilled $3.77 $5.25 $4.30

Power $/tmilled $4.96 $4.36 $4.12

Maintenance $/tmilled $0.63 $0.49 $0.56

Orerehandling $/tmilled $0.40 $0.49 $0.49

Tailingsmanagement $/tmilled $0.01 $0.00 $0.00

Mobilecrushing $/tmilled - $0.12 $0.12

Fixedcost $/tmilled $2.69 $1.51 $1.53

Totalcost $/tmilled $13.54 $12.37 $11.27

• CurrentestimateshowsCILlowercost

35

ADDITIONAL BENEFITS OF 2ND CIL PLANT VS FLOAT

ü PeopleexperienceinGhanaisstronglyCILbased,asevidencedbyPhase1ramp-up

ü Frequentpowerfluctuationsandtripswillcauseinstabilityinaflotationplant

ü Buildinganidenticalplant(exceptmills)savesonengineeringdesign&capitalcostsrisks(asbuilt)

ü Samereagentsrequiredtherebyreducingholdingcosts

ü Duplicatingthecurrentflowsheetwillresultinagreatlysimplifiedoperation

ü Greatlyreducedinsurance&operatingsparesholdings

36

PROCESSING PLANT LAYOUT Phase1plantlayoutdesignedtoaccommodatePhase2Expansion

37

Mill

ProcessWaterDam

PreLeachThickener

LeachTanks O2Plant

LEACH

PHASE 2B CIL PLANT LAYOUT

38

ASANKO PHASE 2 TSF DEVELOPMENT

• Phase1tailingsdamtobeusedforallphasesofoperationanddesignedtocaterfor120mtonnes

• TheTSFwilloperatewiththecurrentconfigurationforyears1to2ofoperation

• Tworaises(Stages2to3)willbeconstructedpriortotheexpansionoftheTSFbasin

• ThefollowinginitialworkswillbecompletedduringtheStage3raise(2018):

• InstallHDPElinerovertheStage3Eastembankmentdownstreamface.TheembankmentcrestwillbelinedduringtheStage4works.Thiswillensurecontinuityofthebasinlinersystem

• Fullbasinworks(includingsurfacepreparationandbasinlinerconstructionintheexpandedTSFbasin)willbecompletedduringStage3

• TailingswillbedepositedfromtheeasternextentsofthebasintofilltheexpandedTSFbasin

• TheTSFwillberaisedasasinglecellasrequiredduringtheoperation.TheStage6Eastembankmentwillbeabandonedandallowedtoovertop

39

STAGE 2 – CURRENT

40

STAGE 4 – PHASE 2B EXPANSION

41

STAGE 13 (FINAL)

42

PHASE 2 POWER REQUIREMENTS

• Existing161kVpowerlinefeedingPhase1issufficientforplantupgradeto5Mtpa

• Totaldemandincreasesby4MW,from16MWto20.5MW

• AspartofEsaase infrastructure,33kVoverheadpowerlinerequiredtosupplypowertotheconveyorandtheEsaase sitefromObotanalongtheconveyorservitude

• Existingemergencyback-upgeneratorscapableofsupplyingpowertostrategicdrivesineventofpoweroutage

Phase2A• Powerdemandincreasesfrom20.5MWto36MW

• Additional33MVAminesubstationandplant11kVsubstationrequired

• Inter-connectionofexisting11kVsubstationstoallowflexibilityofsupply

• InstallationofnewMotorControlCentres(MCCs)topowermotorsrequiredfortheplantexpansion

Phase2B

43

SAFETY

• ExcellentsafetyrecordofZEROlosttimeinjuryontheconstructionofPhase1processingplant

• ThekeyconstructionandsafetyteamfromDRAhavebeenretainedforPhase2

• ThepeoplebasedsafetysystemusedinPhase1willbeusedinPhase2forallcontractorsandemployees

• ELB,theconveyorcontractor,havebeenintegratedintotheAsanko safetysystemthroughengagement

44

PHASE 2: KEY MILESTONES

Complete Phase 2 DFS Q4 2016

Phase 2A

Overland Conveyor FEED and construction Q4 2016 – Q2 2018

CIL upgrade FEED and construction Q4 2016 – Q4 2017

CIL upgraded 5Mtpa plant ramp-up and commissioning Q1 2018

Commence construction of mining infrastructure at Esaase Q1 2018

Commence mining operations at Esaase Q2 2018

Phase 2A complete Q3 2018

Phase 2B

InvestmentDecision Q4 2017

AdditionalCIL5MtpaExpansionconstruction Q1 2018 – Q2 2019

TSF Expansion Q3 2018 – Q1 2019

Additional CIL 5Mtpa plant commissioning Q2 2019

Phase 2B complete Q3 2019

This image cannot currently be displayed.

45

2017 OUTLOOK

ROB SLATEREXECUTIVE: MINING

46

STRONG OUTLOOK FOR 2017

• Targeting230,000-240,000ozwithAISCofUS$810-840/oz

• Twooresources:Nkran andDynamiteHill

• Nkran• Dualrampsystemfullyinstalled• FocusondroppingEasttocentre elevation• IntermediateWesternwallfocusinQ12017• CommenceWesternwallpushbackinQ22017

• DynamiteHill• Providesflexibilityandde-riskstheorefeedplan• 30,000tpmoredeliveryplan,withabilitytoincreaseto

100,000tpmasriskmitigation• OreminingscheduledtocommenceinH22017

• Nkran ExtandAdubiaso ExtnowplannedforlaterintherevisedLoM

• Akwasiso likelytocomeintoplayinlate2017and2018butawaitinginitialresource

This image cannot currently be displayed.

47

Asankrangwa Gold Belt

SIGNIFICANT GROWTH POTENTIAL

PHIL BENTLEYEXECUTIVE: GEOLOGY & RESOURCES

48

STRATEGIC GROWTH OPPORTUNITIES

• Phase2Expansion

• Blindexploration:AnNkran lookalikenewdiscovery

• Continuedsatellitedepositexplorationandevaluation

• Acquisitionofneighbouring properties

49

AKWASISO PLANNED DEVELOPMENT

• AcquiredinQ22016

• HistoricResolutedrillingofoxidesindicatesmineralresourceof>100,000oz

• Asanko hascompletedPhase1infillandconfirmatorydrillingprogram(~10,000mDD+RC)

• InitialMineralResourceEstimationdueQ42016

• MREwillprovidebasisforpreliminaryWhittlepitanalysis

• PlanistopermitAkwasiso inH22017,readyformininginH12018

50

AKWASISO GEOLOGY – AN NKRAN LOOK ALIKE

• RecentlycompletedPhase1infill&confirmatorydrillingprogramhasprovidedcoreintersectionsvalidatinggeologyandstyleofmineralization

• Goldmineralizationisfocusedon3maindomains:

- awesternshearzonehostedinsandstonelithologies

- acentralshearzoneproximaltothesandstone– granitecontact

- agranitehosteddomainontheeast

PlanView+0.3g/tgradeshells

51

AKWASISO BOREHOLE INTERSECTIONS

AKWASISOQ32016INTERSECTIONSHole_ID mFrom mTo Intm Aug/t mxg/t InterceptDescriptionAKDD16-002 258.00 272.00 14.00 1.71 24 14m@1.71g/tauAKPC16-002 194.00 198.00 4.00 4.95 20 4m@4.95g/tAu

AKPC16-004 17.00 31.00 14.00 1.93 27 14m@1.93g/tAuAKPC16-004 21.00 31.00 10.00 2.11 21 10m@2.11g/tAuAKPC16-004 149.00 203.00 54.00 3.85 208 54m@3.85g/tAu

AKDD16-005 65.00 68.00 3.00 6.92 21 3m@6.92g/tAuAKDD16-005 161.00 178.00 17.00 4.16 71 17m@4.16g/tAu

AKDD16-007 8.80 46.00 37.00 1.17 43 37m@1.17g/tAuAKDD16-007 60.00 84.00 24.00 1.23 30 24m@1.23g/tAu

AKDD16-011 105.00 118.00 13.00 2.44 32 13m@2.44g/tAuAKDD16-011 169.00 185.00 16.00 3.65 58 16m@3.65g/tAu

AKDD16-012 119.00 123.00 4.00 14.68 59 4m@14.68g/tAuAKDD16-012 169.00 200.00 31.00 0.98 30 31m@0.98g/tAuincl 169.00 175.00 6.00 2.99 18 6m@2.99g/tAu

AKDD16-013 5.80 13.30 7.50 5.67 42 7.5m@5.67g/tAuAKDD16-013 56.00 59.00 3.00 21.93 66 3m@21.93g/tAuAKDD16-013 69.00 81.00 12.00 4.66 56 12m@4.66g/tAu

AKDD16-026 225.00 232.00 7.00 5.59 39 7m@5.59g/tAuAKDD16-026 295.00 317.00 22.00 4.29 94 22m@4.29g/tAu

52

INTEGRATION OF 2015 VTEM SURVEY WITH PROSPECTIVITY ANALYSIS

• Subsequentto2015VTEMsurvey,theregionalstructuralframeworkhasbeenfurtherrefined.Theoutcomeofthesurveywasover140followuptargetswhichwereprioritizedtoa“top20”

NKRAN

Prospectivity&VTEMTargets

53

BLIND EXPLORATION: AN NKRAN LOOK ALIKE NEW DISCOVERY

• Asanko hasinitiatedaphaseofmoredetailedinterpretationoftheVTEMandmagneticdata;

• AdetailedstructuralinterpretationiscurrentlybeingundertakenbyKimCook(Perthstructuralgeologist);

• InversionstudiesoftheVTEMdataarealsounderway(Spectrem Air,RSA),enabling3Dmodellingofstructuraldiscontinuitiesaswellastargetsundercoverordownplungeofexistinggoldoccurrences;

• Theintegrationofthesestudiesisanticipatedtoadvancetheprioritizationforthedrilltargetingofdeeperseated(200-300mbelowsurface)“Nkran”or“Esaase”styleorebodies.

54

ASANKRANGWA BELTINCREMENTAL MINERAL RESOURCES

• During2015Asanko instigatedareviewofalldrilledtargetsthathadnotbeenmodelled

• 12targetswereidentified,7havebeenmodelledduring2016,1inprogress.Ofthese,4targetshavebeendrillevaluatedand/orremodelled toaclassifiedresourcestatus

• TotalincrementalM&Iis±182,000oz

• Unclassifiedresourcescurrentlytotal±362,000oz

• Futurestrategicobjectivesinvolvecontinuedevaluationofsatellitedeposits

55

ACQUISITON OF ADJACENT PROPERTIES

• During 2016 Asanko has progressed the analysis and acquisitionof adjacent properties that provide significant upside andcontinuity to the oxide and fresh exploration strategy

• Akwasiso acquisitionbrings+100,000ozintoplay

• Otherpropertieshavebeentargetedforacquisition

• SmallScaleMiningLicences southofNkran willbeinvestigated

56

ASUMURA TARGET

• TheAsumura projectislocatedalongtheprolificgoldendowered westernboundaryoftheSefwi GreenstoneBelt,approximately65kmsouthofNewmont’s+30MozAhafo deposits.

• TheAhafo depositsappearinmultiplepitsstretchingalong70kmoftheKenyase thrust,whichmarksthewesternboundaryoftheSefwi greenstonebelt.

• TheKenyase thrustpassesdirectlythroughtheAsumura concessionputtingitinaprimelocationinanunderexploredportionoftheSefwi greenstonebelt.

• Asanko isplanningafurtherphaseofexplorationdrillingin2017subsequenttoreassessingexistinggeophysicaldata.

57

EXTENDING LIFE OF MINE BEYOND PHASE 2

GoldProduction• Nkran• Esaase• Satelliteoxides• Newdiscoveries

PFSStudiesIndicatedResourceevaluation=>lowcostincrementaloxides

IntegratedGeology,GISandGeophysicsStudiesTargetgeneration&initialdrilltesting

AcquisitionorJV

AdvancedExploration

GenerativeExplorationBlindDiscovery+1Moz

Phase3? DevelopmentofNewDiscoveries

58

OUR SOCIAL LICENCE TO OPERATE

FREDATTAKUMAHEXECUTIVE:CORPORATEAFFAIRS

59

GUIDING PRINCIPLES FOR OUR STAKEHOLDER ENGAGEMENT

Engagingourstakeholdersinrespectfulandculturallysensitivepartnershipstoachievesharedvalueforall

60

IMPRO

VED L

IVIN

G S

TA

ND

ARD

S

VOCATIO

NAL T

RA

ININ

GA

CC

ESS TO

WO

RK & FINANCE

ACCESS

TO

EDUCATIO

N

OPPORTUNITY

CYCLE

COMMUNITY

DELIVERING ON THE OPPORTUNITY CYCLE THROUGH PARTNERSHIPS…

Obotan CooperativeCreditUnion(OCCU)

Asanko-GIZVocationalSkillsDevelopmentProgram

&Asanko

ReadingGhanaProgram

Asanko HealthFacilitiesSupportProgram

…tostrengthenandenhanceoursociallicensetooperate

61

ASANKO-CODE PARTNERSHIP

• Asanko &CODEarepartneringonReadingGhanaProgram,announcedonWorldLiteracyDay,8September2016

• 6-yearprogramforschoolswithintheAshantiRegion

• Formallaunchon5October2016atManso-Nkran villagewithacolorfulceremony&allstakeholdersinattendance

• Booksfortheestablishmentofschoollibrariesandteachingmaterialsweredonatedto10publicschools,wherethepilotphaseoftheprogramisbeingimplemented

62

ASANKO-GIZ PARTNERSHIP

Asanko-GIZSkillsDevelopmentProgram

• 1st phasesuccessfultrained260youngpeoplefromObotan&Esaase communities

• Agreementsignedtoextendprogramforanother3years,from2016to2018

• 2nd phasewill:

• Trainover400youngpeopleinvocationalskills

• Establishcooperativesforgraduatesoftheprogram

• TransitionObotan &Esaase SkillsDevelopmentCentersintotheGhananationalstructures

Obotan CooperativeCreditUnion(OCCU)• Financialliteracyprogramtoimproveruralaccesstocredit

• Strongsupportanduptakebycommunitymembers• OCCUmembershiphasgrownfrom120membersinDec2015toover800membersbySept2016

• TotalassetshavegrowntooverGHS200,000(orUS$50,000)

0.0050,000.00100,000.00150,000.00200,000.00250,000.00

CumulativeContributionsandTotalAssetsProfile(GHS)

MONTHLYASSETS (GHS)

63

ASANKO-PROJECT CURE PARTNERSHIP

• NeedsAssessmentexercisesuccessfullyconductedbyProjectCUREonall8medicalfacilitieswithinthemine’scatchmentarea.

• InteractionsheldwiththeAmansie WestDistrictDirectoratetovalidatefindingsoftheNeedsAssessmentandensuremedicalsuppliesandequipmentsubsequentlydonatedmakeapositiveandmeaningfulcontributiontohealthdeliveryinthearea

• Requiredmedicalsupplies&equipmentexpectedinH12017

64

IN SUMMARY….

Asanko is:

• Utilizingitspresenceasacatalystforcommunitydevelopmentandinaddressingsocialchallenges

• Pursuingstrategicsocialinvestmentsthatbenefitourcommunitiesandareself-sustaining

• Partneringwithstakeholderstodeliversustainablesocio-economicoutcomesforourcommunities

• Makinggoodprogressinourefforttocontinuouslyenhanceoursociallicence tooperate

Sharedvalue

business

society

65

Economics & Financial OutcomesCONCLUSION

PETERBREESEPRESIDENT&CEO

66

3 PILLARS OF VALUE CREATION

ExplorationUpside

Ø 2016successfulprogramwith3newdiscoveries

Ø 2017explorationbudgetincreased

Ø Significantpotential– emergenceofanewdistrict

Production

Ø Phase1deliveringaheadofplan

Ø 2017:230,000-240,000ozwithAISCofUS$810-840/oz

OrganicGrowthdeliverssignificantboostinproduction

Ø Phase2Aapproved&fundedfromcashflows

Ø Targeting290,000– 300,000ozin2018

Ø Phase2Bflowsheetsimplified&de-risked

Ø Increasesproductionto±470,000oz

Exploration

Organ

icGrowth

Prod

uctio

n